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Trend table status






Up 7/31/20

Up 1/29/21

Up 5/29/20


Up 10/2/20

Up 8/21/20

? 3/26/21


Up 3/29/21

?- 4/5/21

? 4/1/21

Short term

Up 4/1/21

Up 4/5/21

Up 4/1/21

Don Worden of Worden Brothers (makers of Telechart software) used to keep a trend table before his health issues got in the way. I always found it useful. Mine is slightly different. Hopefully helpful. Up? or Dn? means loss of momentum. ? by itself means trend is neutral. ?+ or ?- means trend is neutral with bias of up(+) or down (-)

Friday, January 11, 2013

Daily update 1/11

That was an exciting day, LOL.  Here is the daily SPX chart.

That looks like a hanging man doji candle.   We opened flat and never made it up to the Sept. high.  Lets look at the SPY daily chart tonight.

There is a combination of a hanging man yesterday and a doji bar today.  The doji bar is also a hanging man as well.  This combination has been named the Shanghai Duo (thanks for the reminder Herm).  This is not a real well known combination, but can be an important top or bottom pattern.  With an extremely overbought market it might mean it is time for a pullback.  A close below today's low should be confirmation a move down has started. 

We are at an important juncture here.  A retest of the Sept. high with very bullish sentiment could be a recipe for a bigger pullback then many expect.  This really looks and feels like an important top to me.  I guess we will see.  Maybe I am just crazy, LOL.

Chart practice has been updated with QQQ the stock for today.


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